Falls hotel project might resume this spring

Development of a 135-room hotel in Menomonee Falls, which ran into delays because it was unable to obtain a construction loan, could resume this spring, the developer says.

Madison-based Professional Hospitality LLC hopes to soon complete a financing package for the project, said Derek Kritzer, general counsel. The hotel is planned for W14776 Main St., just west of Highway 45.

The hotel--its brand hasn't been announced yet--would replace the former Falls Inn. That dilapidated building was largely demolished last year, leaving just the concrete shell.

Village officials hope the hotel and additional development will help bring new life to Main St. between Highway 45 and Pilgrim Road.

Work on the hotel project stopped last fall because of turmoil within the nation's credit markets, Kritzer said.

Commercial Real Estate News

For decades, Brookfield's Blue Mound Road has been the Milwaukee area's busiest retail corridor, extending westward from its anchor at Brookfield Square mall to Barker Road.

Now, that landscape is changing, with five major retail projects under construction — including Brookfield Square's latest redevelopment phase, and the Von Maur department store-anchored retail center known as The Corners.

Blue Mound Road features dozens of shopping centers and stand-alone retail buildings on the three-mile stretch between Moorland and Barker Roads. Those buildings have long enjoyed high occupancy rates, said Bruce Westling, principal at NAI MLG Commercial and a veteran retail leasing broker.(12)